2008 all over again?

2008 all over again?

How much better prepared are fund boards for a major market crisis than they were 15 years ago?

The NED was launched in the aftermath of the 2008 crisis. It has therefore followed the evolution of fund governance ever since. Early issues of this publication were full of coverage of dramatic events that would not have come to light if there had not been a crash in 2008 – ranging from Weavering through to the Madoff feeder funds.

Nothing like that will occur again. Magnus Peterson, the manager of the Weavering fund, was convicted of fraud and went to prison. His board was made up of his family members. And there is very little to no chance that another situation similar to Madoff’s – with all those feeder funds – will ever return, either.

To read more on this story see the March issue of The NED